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Rating:OWS is David v Goliath Says Bogle Not Rated 5.0 Email Routing List Email & Route  Print Print
Friday, October 28, 2011

OWS is David v Goliath Says Bogle

News summary by MFWire's editors

What does Vanguard [profile] founder Jack Bogle think of the Occupy Wall Street protests that are breaking out across the country. If you were wondering, the Philadelphia Inquirer emailed him and asked.

Bogle's answer:

I like the idea of the idealism, frustration, and even anger that the Occupy Wall Street movement represents. These (mostly) young citizens can see what their elders (mostly) cannot - that the financial system is responsible for much of the havoc wreaked on our economy, with the penalties paid not by the Wall Street (and Greenwich) financiers and executives who led and participated in the abuse, but by the taxpayers of our nation. That our savers, as a result, are earning close to zero on their hard-earned savings is just one more example of this economic drain and profound unfairness.

So long as we have a First Amendment that guarantees the right of the people peaceably to assemble, their right to protest the inequities in our economic and financial system sends an important message to Wall Street: 'Attention must be paid!' In a world increasingly dominated by Goliaths, all those Davids together will make a difference.
 

Edited by: Sean Hanna, Editor in Chief


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